ELI5 Cryptocurrency, cryptography, software development and information security. Our latest featured cryptocurrency knowledge base articles including basic concepts, software development, technical articles, easy to follow ELI5 introductions to technical concepts and much more!
Scrape AVAX network peers using avax-python
P2P networking is the single most important technical functionality in all cryptocurrency implementations. The decentralized nature of Bitcoin, AVAX, Ethereum and others requires ...
ELI5 Dollar Reboot Composite
Market analyst Jim Rickards edits the Strategic Intelligence newsletter and, in 2017, he made several predictions about the financial markets in the coming years, specifically men...
ELI5 Avalanche [AVAX] Platform Whitepaper Summary
In this post we’ll summarize the Avalanche Platform whitepaper [PDF]. This document is part of Ava Labs’ technical material about the Avalanche protocol and its implementation. Since the paper goes into high detail, we’ve summarized it ELI5 style to give you an overview of how the official AVAX implementation works. The Avalanche platform whitepaper focuses […]
ELI5 AVAX IOU? Is it the real AVAX coin?
November 2020 Update As of November 18, AVAX price has remained remarkably stable – for cryptocurrency standards. Coincost shows the AVAX IOU slowly depreciating, although it’s unclear how much volume is being traded at these prices. September 22 Update AVAX mainnet has been launched and, as it turns out, IOU price was actually lower than […]
ELI5 How AVAX validation works [Avalanche Protocol]
According to the Avalanche AVAX token distribution policy, almost 50% of all AVAX in existence will go towards validator rewards (see chart at the top). Since the Avalanche protocol burns all fees, the only source of inflation in the AVAX ecosystem is the validation reward. This presents a great opportunity for those who join the […]
AVAX mainnet officially launched [Sept 22, 2020]
AVAX mainnet has launched with thunderous success! As we write this article, AVAX has gained over 620% (8 AM UTC) in the first 4 hours of trading at Binance. Volume stood at impressive U$ 72 million in just hours (> $100 million when we last updated this text 1 hour later). Despite some profit-taking during […]
Concepts In This Page
Avalanche is a consensus protocol introduced by Rocket Team in 2018.
It is an entirely new consensus protocol which builds upon classic consensus and Nakamoto consensus.
AVAX is the cryptocurrency released in 2020 by Ava Labs.
The AVAX cryptocurrency is used for all transactions in the Avalanche network.
Ticker symbol for the Avalanche AVAX cryptocurrency.
First Generation Cryptocurrencies
The first generation cryptocurrencies was spawned by Bitcoin. Several Bitcoin forks exist on this generation. Most 1st generation coins simply copied the Bitcoin source code while modifying the encryption algorithms and total coin supply.
Second Generation Cryptocurrencies
The second generation of cryptocurrencies added on-chain smart contracts and fully featured contract programming languages. Ethereum, which is the most notable 2nd generation cryptocurrency, brought smart contracts and introduced tokens to the masses, spawning the wave of ICO's from 2014 onwards.
Third Generation Cryptocurrencies
Third Generation Cryptocurrencies are still being developed. These include everything from second gen cryptos, plus on-chain governance, delegated Proof of Stake consensus and native compliance features. Cardano is a notable example of 3rd gen cryptocurrency project.